Apple target lifted on China demand - Wedbush

Apr. 09, 2019 7:38 AM ETApple Inc. (AAPL)AAPLBy: Brandy Betz, SA News Editor52 Comments

Wedbush maintains an Outperform rating on Apple (NASDAQ:AAPL) and raises the target from $215 to $225 citing demand trends that are "slowly turning around" in China after the recent iPhone XR price cut.
Analyst Daniel Ives expects "more significant" cuts in China to avoid a "code red" demand situation.
Ives says the cuts are "a smart and necessary strategy" even with investor concerns about top-line impact. Apple's Services growth will be driven off the user base size and China is "a key ingredient in Apple’s future recipe for success."
Apple shares are up 0.5% pre-market to $201.